According to the market ups and downs cycle, this paper divide the whole market into 4 stages, apply Tracking Error, Regression Analysis, Mean Squared Deviation and Single Factor Performance Analysis to survey the performance of the 17 CSI 300 index funds which have been on the market of China at different stages ，analyze the factors affecting the performance of index funds. The result indicates that the performance of the different funds at different periods reflects great difference, some fund displays outstanding achievement in all 4 stages, but the anti-risk ability index is not prominent.